EGRs could unlock India's 30,000-tonne idle household gold, but GST on conversion stalls adoption
Electronic Gold Receipts may cut India's $71.98bn gold import dependence by mobilizing idle stock. NSE-Augmont tie-up leverages 4,975 jewellers and 4,600 retail touchpoints to drive uptake, while a GST Council fix on physical conversion remains the key speedbump.
Electronic Gold Receipts (EGRs) could reduce India's gold import dependence by mobilizing idle household gold, but GST on physical conversion remains a speedbump. NSE-Augmont tie-up aims to boost adoption via 4,975 jewellers and 4,600 retail touchpoints; GST Council fix awaited.